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117 Northeast First Avenue (Getty, Gut Miami via Twitter)
UPDATED, Jan. 26, 2:15 p.m.: The owners of a historic downtown Miami office building that is fully leased to WeWork are facing a foreclosure lawsuit.
Platform Capital Funding sued the owners of the Security Building, tied to an outstanding loan. The lender is seeking more than $46 million, including principal, interest, late fees and a deposit from a failed sale of the building, according to court records. The complaint was filed against Security Building AR Owner, Andrew Joblon, Richard Weisfisch, Arash Gohari and Daniel Gohari.
WeWork is not named in the suit, but it is the sole tenant of the 15-story building at 117 Northeast First Avenue. Security Building AR Owner, led by Weisfisch, paid $23.5 million for the property in 2015, converted it from residential condos back to office space, and secured WeWork as the main tenant.
MPSC
MPSC releases guidance on implementation of PURPA after Federal Energy Regulatory Commission s Order 872
FOR IMMEDIATE RELEASE January 21, 2021
Customer Assistance: 800-292-9555
The Michigan Public Service Commission today provided guidance on how it plans to adjust its implementation of the federal Public Utility Regulatory Policies Act of 1978 (PURPA) in the wake of the Federal Energy Regulatory Commission’s issuance of Order 872 in 2020 (Case No. U-20905).
The Commission in October requested comments from interested parties on how Order 872 impacts the MPSC’s implementation of PURPA, a federal law created amid the 1970s national energy crisis to encourage competition, conservation, reliability and efficiency in generating and delivering electricity. PURPA, which is largely carried out by states, encourages the integration of electricity generation from smaller renewable energy and cogeneration qualifying facilities, or QFs, to achieve diversity, reliabili
LARA
MPSC releases guidance on implementation of PURPA after Federal Energy Regulatory Commission s Order 872
FOR IMMEDIATE RELEASE January 21, 2021
Customer Assistance: 800-292-9555
The Michigan Public Service Commission today provided guidance on how it plans to adjust its implementation of the federal Public Utility Regulatory Policies Act of 1978 (PURPA) in the wake of the Federal Energy Regulatory Commission’s issuance of Order 872 in 2020 (Case No. U-20905).
The Commission in October requested comments from interested parties on how Order 872 impacts the MPSC’s implementation of PURPA, a federal law created amid the 1970s national energy crisis to encourage competition, conservation, reliability and efficiency in generating and delivering electricity. PURPA, which is largely carried out by states, encourages the integration of electricity generation from smaller renewable energy and cogeneration qualifying facilities, or QFs, to achieve diversity, reliabili
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Matthew Whitman Lazenby, Grant Cardone, Phil Collins, Orianne Bates, Russell Galbut, Natalie Brabner, Craig Studnicky and Masoud Shojaee (Lazenby by Sonya Revell; Getty, iStock)
The pandemic did not stop top real estate players from seeking relief through the courts or from becoming legal targets, themselves. So, there was no shortage of juicy lawsuits featuring the top names in the industry. Here are the top 10 lawsuits reported by
The Real Deal in 2020:
Bal Harbour Shops vs. Saks Fifth Avenue
The economic fallout of the pandemic is endangering one of the longest running tenant-landlord relationships in luxury retail. In early September, Bal Harbour Shops sued to evict Saks Fifth Avenue for allegedly failing to pay more than $1.8 million in rent. Saks Fifth Avenue, claiming government shutdowns associated with Covid-19 mitigation measures impacted its ability to operate and produce sales, countersued Bal Harbour Shops and Whitman Family Development�